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Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 8,405,371 $ 8,243,122
Marketable securities 1,453,542 851,318
Accounts receivable, net of allowance for credit losses of $24,321 at March 31, 2024 and $16,672 at December 31, 2023 1,676,957 1,566,839
Inventories (net) 1,172,087 1,223,506
Prepaid expenses and other current assets 220,750 191,708
Prepaid income taxes 213,801 176,220
Total current assets 13,142,508 12,252,713
Deferred income taxes 33,502 50,930
Net property, plant, and equipment:    
Land 69,000 69,000
Factory equipment and fixtures 4,698,305 4,669,936
Building and improvements 3,035,512 2,976,577
Total property, plant, and equipment 7,802,817 7,715,513
Less: Accumulated depreciation 7,144,149 7,096,318
Total property, plant, and equipment (net) 658,668 619,195
TOTAL ASSETS 13,834,678 12,922,838
Current liabilities:    
Accounts payable 336,879 134,449
Accrued expenses 1,354,753 1,363,044
Deferred revenue 0 15,498
Dividends payable 21,377 21,265
Total current liabilities 1,713,009 1,534,256
Total liabilities 1,713,009 1,534,256
Commitments and Contingencies  
Stockholders’ equity:    
Common stock $.10 par value; 10,000,000 shares authorized; 4,594,319 shares issued and outstanding at March 31, 2024 and December 31, 2023 459,432 459,432
Retained earnings 11,662,237 10,929,150
Total stockholders’ equity 12,121,669 11,388,582
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 13,834,678 $ 12,922,838